DEN Networks has been in an uptrend from Aug 11. The stock has climbed up from a mere 40 to 84. Now the stock price is again going low.
Traders can expect a swing near this region and what most traders must look for is a change in the slope of the 9-day Moving Average. If the slope of the 9-day MA turns from negative to positive then it is a signal to go long on this stock.
What we need to look for is a positive slope, not just a flat one. Slope turning from negative to flat is not a signal to enter. Its only when the stock turns positive that traders can say that something is up.
Kindly note that the advice we provide are based solely on technical analysis. There are thousands of factors that can affect the price of a stock. So do not rely solely on our tips. Please do listen to news and also perform your own analysis to determine whether you should enter a position or not. We would not be held accountable for any loss you might suffer in process of trading. The above are for information purposes only, trade at your own risk.
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